$QNT — Bearish Reversal + Bearish Engulfing 😳
Since technical indicators don’t provide high quality prediction atm it is worth looking at candlestick patterns.
Quant is an interesting example:
➡️ Printed a bearish reversal candle on 18 May
➡️ Right the next day, QNT printed a bearish engulfing candlestick that equalized the two previous days.
Historically, a bearish engulfing pattern on the daily chart has a high win rate.
Combined with the mainly bearish trend indicators and mainly neutral momentum indicators, there’s definitely so more downside potential.